Assenagon Asset Management S.A. Grows Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Assenagon Asset Management S.A. raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 35.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,920,658 shares of the biotechnology company’s stock after purchasing an additional 501,591 shares during the quarter. Assenagon Asset Management S.A.’s holdings in BioMarin Pharmaceutical were worth $108,498,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Activest Wealth Management purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $26,000. CIBC Private Wealth Group LLC lifted its holdings in shares of BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 179 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in BioMarin Pharmaceutical in the third quarter worth about $40,000. Parallel Advisors LLC grew its position in BioMarin Pharmaceutical by 62.2% in the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 295 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth approximately $45,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of recent research reports. Sanford C. Bernstein decreased their price objective on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Loop Capital set a $105.00 target price on BioMarin Pharmaceutical in a report on Monday, March 2nd. HC Wainwright reissued a “neutral” rating on shares of BioMarin Pharmaceutical in a research report on Monday. Morgan Stanley decreased their price target on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Finally, Weiss Ratings downgraded BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.67.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the sale, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Trading Up 1.4%

Shares of NASDAQ BMRN opened at $57.27 on Thursday. The business’s 50 day moving average price is $54.32 and its 200-day moving average price is $56.47. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. The company has a market cap of $11.07 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 0.43 and a beta of 0.25.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.